Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

IPS, Inc. (4390.T)

Company Dividend Discount ModelIndustry: Telecommunications ServicesSector: Communication Services

Valuation Snapshot

Stable Growth$2,395.54 - $3,785.52$3,030.83
Multi-Stage$5,900.09 - $6,510.51$6,199.23
Blended Fair Value$4,615.03
Current Price$3,400.00
Upside35.74%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS0.00%0.00%38.4732.8839.839.300.000.000.000.000.000.00
YoY Growth--17.01%-17.46%328.46%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.62%1.43%1.71%0.40%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3,191.00
(-) Cash Dividends Paid (M)125.00
(=) Cash Retained (M)3,066.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)638.20398.88239.33
Cash Retained (M)3,066.003,066.003,066.00
(-) Cash Required (M)-638.20-398.88-239.33
(=) Excess Retained (M)2,427.802,667.132,826.68
(/) Shares Outstanding (M)13.2313.2313.23
(=) Excess Retained per Share183.50201.59213.65
LTM Dividend per Share9.459.459.45
(+) Excess Retained per Share183.50201.59213.65
(=) Adjusted Dividend192.95211.04223.10
WACC / Discount Rate5.89%5.89%5.89%
Growth Rate-2.00%-1.00%0.00%
Fair Value$2,395.54$3,030.83$3,785.52
Upside / Downside-29.54%-10.86%11.34%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3,191.003,159.093,127.503,096.223,065.263,034.613,125.65
Payout Ratio3.92%21.13%38.35%55.57%72.78%90.00%92.50%
Projected Dividends (M)125.00667.641,199.411,720.482,231.002,731.152,891.22

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.89%5.89%5.89%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)624.11630.48636.85
Year 2 PV (M)1,048.121,069.621,091.33
Year 3 PV (M)1,405.441,448.911,493.26
Year 4 PV (M)1,703.671,774.281,847.06
Year 5 PV (M)1,949.632,051.162,156.86
PV of Terminal Value (M)71,328.7875,043.0478,910.43
Equity Value (M)78,059.7682,017.4886,135.80
Shares Outstanding (M)13.2313.2313.23
Fair Value$5,900.09$6,199.23$6,510.51
Upside / Downside73.53%82.33%91.49%

High-Yield Dividend Screener

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